Finland Times

The co-determination negotiations will cover 2,800 personnel in the passenger traffic, train maintenance unit, rail services unit as well as Avecra.

VR announced it was restructuring the organisation of the passenger traffic, rail traffic maintenance as well as the rail service unit.

The railway operator is also planning to streamline its catering unit, Avecra.

VR is targeting to save euro 50 million and announced it will further lower train ticket price. The timetables and routes will also be subjected to changes.

The company is also considering shutting ticket selling points in some railway stations.

Furthermore, due to new rolling stock and changes to traffic, there will be less maintenance work.

As a result of the planned changes, less train drivers will be needed.

The changes are expected to take effect this year and next year.

VR sales declined in the second quarter. The company has been especially hit by the entrance of cheap buses in the market.

The long-distance traffic volume in April-June decreased by 6 percent compared to last year.

The passenger traffic posted euro 1.9 million operating loss, while a year ago, the unit posted euro 4.9 million profit.

The total revenue of VR Group in the second quarter stood at euro 305.9 million which is 8.5 percent less than a year ago.

The company's second quarter profit was euro 6.1 million compared to last year's profit of euro 14.3 million.

VR expects full-year results to decline significantly from last year.